Deregulation Effort Could Boost Business Growth in South Africa

Summary

The South African government usually tries to boost business growth and transformation by creating more laws and regulations. However, this approach can sometimes make it harder for businesses to operate smoothly. Instead of adding more rules, experts believe that simplifying and reducing existing laws could help businesses grow better. Simplified legislation could save time and money for companies, especially small and medium ones that struggle with complicated rules. A task force focused on deregulation is being considered to review and remove unnecessary laws, making it easier for businesses to start, run, and expand. This change could lead to a more supportive environment for entrepreneurs and investors by reducing red tape and encouraging more innovation and investment.